| Stage | MA | % of rev | GPN | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $9.8B | 100.00% | $3.3B | 100.00% | MA ×2.95 |
| Gross profit | $9.8B | 100.00% | $2.0B | 61.04% | MA +39.0pp |
| Operating income | $5.9B | 59.77% | $337M | 10.15% | MA +49.6pp |
| Pre-tax income | $5.7B | 58.54% | $104M | 3.14% | MA +55.4pp |
| Net income | $4.6B | 47.19% | $29M | 0.87% | MA +46.3pp |
| Stage | MA | GPN | Gap · A − B |
|---|---|---|---|
| Revenue | $9.8B100.00% | $3.3B100.00% | MA ×2.95 |
| Gross profit | 100.00%$9.8B | 61.04%$2.0B | MA +39.0pp |
| Operating income | 59.77%$5.9B | 10.15%$337M | MA +49.6pp |
| Pre-tax income | 58.54%$5.7B | 3.14%$104M | MA +55.4pp |
| Net income |
| 47.19%$4.6B |
| 0.87%$29M |
| MA +46.3pp |
MA · PRTH 10-KMar 10 '26
“Additionally, we provide a suite of integrated AP automation solutions businesses to FIs and card networks such as Citibank, Mastercard and Visa, among others.”
GPN · PRTH 10-KMar 10 '26
“In these partnerships, we serve as a merchant acquirer and enter into processing agreements with payment processors, such as Fiserv or Global Payments, to assist us in providing front-end and back-end transaction processing services for our merchants.”
None
MA · USIO 10-KMar 18 '26
“In order to provide our transaction processing services, we are registered with Visa, Mastercard and Discover as service providers and transaction processors for member institutions and with other networks.”
GPN · USIO 10-KMar 18 '26
“We also have an agreement with TriSource Solutions, LLC and an agreement with Global Payments, Inc. through which their member banks, Central Bank of St. Louis and Fifth Third Bank, sponsor us for membership in the Visa, Mastercard, American Express, and Discover card associations and settle card transactions for our merchants.”